If you are a casino, effective September 28, 2009, you have to send a casino disbursement report to FINTRAC in the following situations:
You make a disbursement in an amount of $10,000 or more, in the course of a single transaction.
You make two or more disbursements of less than $10,000, that total $10,000 or more under the 24-hour rule. In this case, you have to make a casino disbursement report if your employee or senior officer knows the disbursements were received within 24 consecutive hours of each other by or on behalf of the same individual or entity.
You have to send a casino disbursement report to FINTRAC within 15 calendar days after the disbursement.
Only disbursements that you pay out in the following types of transactions must be reported:
- redemptions of slot tickets, chips, tokens or plaques;
- front cash withdrawals;
- safekeeping withdrawals;
- advances on any form of credit, including advances by markers or counter cheques;
- payments on bets, including slot jackpots;
- payments to clients of funds received for credit to that client or any other client;
- cashing of cheques or other negotiable instruments; and
- reimbursements to clients of travel and entertainment expenses.
This includes amounts paid out in cash, by cheque, by transfer or many other methods, but it only includes amounts paid out to a casino client or patron and only if they were paid out for the types of transactions listed above. However, in this context, disbursements exclude any amounts that you pay out in casino chips.
A disbursement does not include the following:
- a payment for services or goods to the casino's staff, suppliers or entertainers
- an amount deposited to the casino's bank account
- an amount deposited to a front money account
- an amount applied to a casino credit account
- an advance on a client's credit card, unless the credit card was issued by the casino
- a "comp" (complimentary) payment or redemption of player points
- a cash bonus payment (rewards program)
- cash received by the casino (see Guideline 7: Submitting Large Cash Transaction Reports to FINTRAC for information about when receipts of cash are reportable)
For more information about this, including information about who is considered a casino and examples of disbursements, see FINTRAC's Guideline 10: Submitting Casino Disbursement Reports to FINTRAC.